Narcos

Service Charge Accounting

recognizing the accounting function
is the crux to any asset

By utilising Qube, the dedicated property accounting software, we carry out the following accounting functions for clients:

  • Full compliance with the RICS Service Charge Management Code
  • Issuing of Section 20B notices where a property or client’s circumstances dictate the finalised accounts cannot be served within the ‘18 Month Rule’
  • We hold individual interest bearing trust accounts for each client, and each respective element of their property. E.g. Service Charge, Ground Rent, Phased Major Works and Sinking Fund
  • Each account is reconciled weekly and client reports are issued quarterly, or as demanded by the client
  • Administer pay roll for onsite staff and client employed contractors, fulfilling the HMRC and NI obligations
  • Enforce a rigorous arrears collection process for rents and service charge. We also work with a panel of solicitors, or client appointed, for proceedings against difficult tenants
  • Production of detailed and accurate annualised budgets, as well as long term sinking fund plans for major and cyclical works

LET US TAKE CARE OF YOUR RESIDENTIAL PROPERTYproperty partners